IPOS - Car-battery behemoth Clarios may be worth as much as $10.7B in IPO

BirdShutterB/iStock via Getty Images Car-battery maker Clarios (BTRY) is looking at a valuation of $10.7B at the high end of a range for its upcoming IPO. Clarios plans to sell 88.1M shares at a price rang of $17 to $21/share to raise $1.85B at the top end of the range , according to an amended S-1 filing. Clarios will trade on the NYSE under the ticker "BTRY." Clarios originally disclosed in early May that it filed confidentially for an IPO and Reuters at the time said the Wisconsin-based company could be valued at more than $20B. Clarios is owned by Brookfield Business Partners LP (BBU) and Canada’s Caisse de dépôt et placement du Québec. BBU is in turn a unit of Brookfield Asset Management (BAM). Brookfield and Caisse bought Clarios two years ago from Johnson Controls (JCI) for $13.2B. The company makes both the traditional lead-acid batteries used in gas-powered cars and the lithium-ion ones that go into electric

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Car-battery behemoth Clarios may be worth as much as $10.7B in IPO